S&P technical view

As far as a technical analysis is reliable after such a day, an attempt :

  • Volume is huge, no surprise
  • 2 support lines are broken. But that was also the case on “the dip” in February. And it then recovered.
  • What do we have to watch ? Greece or China ?

Look at China

FXI is hitting the support level. Wouldn’t the holding or breaking of this support level be of more importance than Greece troubles ?

After the crash of march 09 all eyes were on China as a hope for the economic recovery. I don’t say that there are no troubles in Europe, but I would say that this is less ‘important’ for economic growth than China. I am thus looking  forward to see how China will evolve in the coming days.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s